Cases of “advance fee” scams where a victim is asked to pay an upfront fee for products or services jumped by more than 80% last year, with victims losing £711 on average, according to Lloyds.
As living costs rise, fraudsters are increasingly turning to this type of scam to target those struggling financially.
Advance fee scams happen when a victim is asked to pay an upfront fee for goods or services that don’t materialise.
Fake ads for loans, jobs and rental properties are among the most common tactics currently being used by criminals.
Reports of loan fee scams have more than doubled over the last 12 months, up by 105% compared to the previous year, with the number of cases continuing to rise sharply. The average amount lost by victims last year was £214.
Victims will typically reply to an…